Pulses markets in India and beyond/
An interview with Ankit Gupta of Ankit Impex

What are the main pulses you work with and your main markets?

At Ankit Impex India, we primarily work with a diverse range of beans & pulses, including but not limited to speckled & color beans (such as LSKB, DRKB, RKB, RSKB. etc), black matpe, pigeon peas, cowpeas, brown eye beans, and chickpeas (kabuli & desi). These pulses are sourced from trusted suppliers across the world, ensuring quality and reliability. As for our main markets, as well as importing into and sourcing supply across India, we also export our beans and pulses to various regions around the world, including to China, Thailand, Vietnam and the United Arab Emirates.

How has business been for your company and for the Indian pulses industry as a whole?

Business at Ankit Impex has been quite promising lately. We've been fortunate to see growth in our sales and expansion of our product lines. As for the Indian pulses industry, it's been experiencing a mixed bag of trends. On the one hand, there have been challenges such as fluctuating commodity prices, weather-related issues affecting crops, and logistical hurdles. On the other hand, there's been a growing global demand for Indian pulses due to their nutritional value and versatility in various cuisines. Overall, despite some challenges, the industry is resilient and continues to thrive with innovative strategies and market adaptability.

Tell us about your role in GPC.

Certainly! At GPC, my role involves representing Ankit Impex India as a member and actively participating in various initiatives and discussions related to the pulses industry on a global scale. In the recent Pulses 24 conference, I was a panelist on the Speckled & Color Beans panel. This includes engaging in dialogues about market trends, policy advocacy, sustainability practices, and technological advancements within the industry. Additionally, I contribute insights from our company's experiences and perspectives to help shape the direction of the organization and promote the interests for India origin kidney beans in the international market.

What changes and developments do you anticipate in the coming year for the pulses industry?

In the forthcoming year, the pulses industry anticipates significant transformations driven by market dynamics, technological advancements, and sustainability initiatives. With many consumers exhibiting a growing preference for plant-based proteins, especially in regions favoring vegetarian and vegan diets, demand for pulses is set to surge. Sustainability and traceability measures, such as organic farming and fair trade practices, are gaining traction, while technological innovations like precision agriculture and blockchain promise efficiency gains. Government policies and trade agreements will continue to exert influence, necessitating industry stakeholders' vigilance to adapt strategies amidst evolving market dynamics and trade regulations.

How has the disruption in the Red Sea and Black Sea routes affected your business? What are the steps you are taking to mitigate these issues?

The disruptions in the Red Sea and Black Sea routes pose significant challenges for pulse exports, particularly in logistics and transportation. These interruptions can lead to shipment delays and increased costs, impacting the ability to deliver timely and cost-effective solutions to customers. To address these issues, we are actively collaborating with logistics partners to identify alternative routes and transportation modes, such as air freight for urgent shipments or exploring alternative ports. Additionally, we're diversifying our supplier base and maintaining buffer stock levels to mitigate potential supply chain disruptions. To counter market instability resulting from shipping disruptions, we remain vigilant, monitoring price trends and demand patterns to adapt pricing strategies, explore new markets, and diversify our product portfolio.

How are the pricing challenges with Myanmar going to affect the pulses industry in India and the world ?

Pricing challenges in Myanmar, a key pulses producer and exporter, can significantly impact the global industry, especially in India. These challenges may disrupt global supply and demand dynamics, leading to potential shortages in importing countries and price fluctuations. Moreover, reliance on Myanmar highlights the need for market diversification and improved risk management. Adjustments in trade policies and relationships with Myanmar may also occur, influencing pulse flow and market conditions.

“Diversifying import sources beyond traditional suppliers like Myanmar can help India mitigate supply chain risks and ensure a stable supply.”

India is developing a new partnership in the field of pulses with Brazil and Argentina. How do you foresee these relationships evolving?

The new partnership between India, Brazil, and Argentina in the pulses sector holds significant promise, offering opportunities for increased trade, collaboration, and market diversification. By strengthening ties, these major producers and consumers can facilitate market access, share expertise, and promote technological advancements in pulse production. Diversifying import sources beyond traditional suppliers like Myanmar can help India mitigate supply chain risks and ensure a stable supply. Leveraging each country's strengths and advocating for coordinated policies can enhance collective bargaining power in international forums and promote the interests of pulse producers globally.

China has emerged as a significant importer of pulses from both India and Russia. In what ways is this going to affect global pulses trade dynamics?

China's increased pulse purchases from India and Russia could significantly impact global trade dynamics in several ways. Firstly, heightened demand from China may drive up competition and prices in the global pulses market, potentially creating supply shortages if demand outstrips production capacities. Secondly, this trend may cause shifts in trade patterns, with more pulses being directed towards China, potentially affecting traditional importers and necessitating adjustments in their sourcing strategies. Thirdly, the surge in Chinese demand offers lucrative market opportunities for exporters in India and Russia, who may increase production and exports to capitalize on this growing market. Finally, the influx of Chinese demand may strain existing supply chains and logistics infrastructure, requiring investments in upgrades and optimization to ensure efficient delivery to the Chinese market.

Russia is emerging as a significant global producer of pulses. How do you see its relationship with India evolving in the future? How does it compare with Canada?

Russia's emergence as a significant pulses producer offers new trade opportunities with India. While this collaboration diversifies India's import sources beyond Canada, it also intensifies competition for Indian exporters. Quality considerations and logistical challenges due to Russia's distance may affect market dynamics, but it could incentivize Indian producers to enhance quality and productivity.